Chainlink (LINK) is currently priced at $8.84, reflecting a notable 7.75% increase over the past 24 hours. The asset has traded within a daily range of $8.20 to $8.83, with the current price nearing the upper limit, indicating bullish momentum.

The trading volume stands at approximately $326.46 million, contributing to a volume-to-market cap ratio of 5.23%. The hourly moving averages suggest a positive trend, with short-term averages (8 SMA and 13 SMA) showing increases of 5.20% and 5.19% respectively, while longer averages remain relatively stable.

The 1-hour Relative Strength Index (RSI) is significantly high at 81, indicating overbought conditions which could lead to a short-term price correction. In contrast, the 7-day RSI is at 50, suggesting a neutral position over a longer timeframe, while the 14-day RSI reveals a bearish trend, reflecting a decline of 17.66% over that period.

Despite the recent short-term gains, the 30-day price change shows a significant downturn of 37.86%, indicating that the asset has experienced considerable volatility and negative sentiment. The all-time high for LINK remains at $52.70, which suggests substantial room for growth but also highlights the risk of retracement from current levels.

In summary, while Chainlink is experiencing a short-term bullish trend, the high RSI and the significant negative movements over the past month indicate potential overextension. Therefore, the recommendation is to Hold LINK, as caution is warranted given the mixed signals from both short-term and longer-term indicators.